Capital Raising News – Page 201
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Cabot Properties expands into Europe
EUROPE/UNITED STATES - Cabot Properties is planning to expand its industrial acquisition efforts into Europe for the first time.
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Danish Engineers sell €65m portfolio to Aberdeen
DENMARK – DIP, the DKK24bn (€3.22bn) pension fund for Danish engineers, has sold a €65m commercial property portfolio to Aberdeen Property Investors and taken a stake in its Danish fund as part of a shift in its investment strategy.
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Lack of debt to present "challenge" for 2009
EUROPE – European real estate investors expect 2009 to be a challenging year for equity and debt markets, according to the latest sentiment report by PricewaterhouseCoopers and the Urban Land Institute (ULI).
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New Jersey changes strategy with commingled capital
UNITED STATES - New Jersey Division of Investment has decided to shift $250m (€190.5m) worth of commitments planned for commingled funds into different investment opportunities on the back of market performance worries.
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Los Angeles City alters hotel booking
UNITED STATES - Los Angeles City Employees’ Retirement System has asked Integrated Capital to change the agreement it made concerning the Capital Hospitality fund so it can go ahead with investment plans.
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North Carolina warns on real estate holdings
US – The North Carolina Retirement System lost $17bn (€12.8bn) in value in 2008 and is bracing itself for a steeper decline in real estate values, the Department of State Treasurer announced on Friday.
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Standard Life halts redemptions
UK – Standard Life, the UK insurance company, has delayed redemptions from six commercial property funds worth £2.7bn (€2.9bn) as a result of the slowdown in property transactions.
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Arkansas searches property management
US – The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (€107m) property portfolio.
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Economic freeze hits Alaska’s investments
US – The Alaska Permanent Fund Corporation’s (APFC’s) real estate portfolio performed better than other assets but has still contributed to the fund’s $4.2bn (€3.2bn) drop in value in the second quarter of fiscal year 2009.
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Progress to sell property for unlisted strategy
NETHERLANDS - The Dutch pension fund of food giant Unilever will sell its entire Dutch direct property portfolio, and switch its real estate investment strategy to unlisted international real estate funds.
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AIG puts real estate house on the market
US - AIG Global Real Estate has today announced the $12.4bn (€9.4bn) fund management business has been put up for sale, as part of the American International Group’s (AIG’s) divestment programme set out at the end of last year.
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Warburg-Henderson grows institutional client base
GERMANY – German real estate company Warburg-Henderson has launched a Master KAG subsidiary and already won its first client.
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Inflows see DEGI alter redemptions ban
GLOBAL – Deutsche Gesellschaft für Immobilienfonds mbH (DEGI), the German-based property investors, has announced it will end the suspension of redemptions from its DEGI International Fund at the end of this month following new capital inflows into the fund.
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LACERA changes real estate benchmark
UNITED STATES - Los Angeles County Employees Retirement Association has approved a new returns benchmark for investing in real estate.
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Teesside hires LVAM to manage real estate
UK – The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has appointed LV Asset Management (LVAM) to manage the pension fund’s direct UK commercial property portfolio.
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Morgan Stanley reopens revised infrastructure pool
UNITED STATES – Morgan Stanley Investment Management (MSIM) has re-opened its Morgan Stanley Global Infrastructure Fund 1 to new investors in the United States, in anticipation of growing investment opportunities across the globe.
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Land Securities warns of tenancy pressures
UK – Land Securities is retaining a “cautious outlook” of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Schroders to apply blind fund to Avon's strategy
UK – The £2bn (€2.12bn) Avon Pension Fund, administered by Bath and North East Somerset Council, has appointed Schroders to manage a £90m UK property multi-manager mandate.
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Capital calls face defaults and delays
A number of real estate fund investors are defaulting on capital calls or asking fund managers to delay them as they look to rebalance portfolios and generate liquidity.
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Purdon arrival to drive AREIT growth
MIDDLE EAST – AREIT Management Limited, manager of the Arabian Real Estate Investment Trust (AREIT), has appointed Chris Purdon as chief investment officer (CIO) as part of the firm’s plans to tap iopportunities in the Middle East region.
